Updated over 16 years ago on . Most recent reply
Average Rents in your area
There are often discussions here regarding the "50% rule" for investors. I believe it is a good, conservative rule of thumb. As others have mentioned, though, there are variables in expenses in different parts of the country and even within different parts of a city.
The rent that a property brings in is the starting point for using the 50% rule. What are the average monthly rental rates for your porfolio? If you are just starting out, what are the average rents for a 2/1 or a 3/2 home?
In my area most of the rental properties rent for $300-$500 a month. Most of these homes are sell for 30-60K. Just curious what the rents are in your area.